Star LTD

PALLURUTHY,ERNAKULAM,PIN 682006,TEL-0484-2564257,GSTIN-32BDTC2415G1ZB
SL. Date Transactions

1. 01-10- The directors of the company brought Rs .25,00,000(2,50,000 equity shares at Rs.10 each) in the form of
2016 equity share capital.

The company opened an account with HDFC bank and deposited the amount.
1a
01-10- Preliminary expenses of Rs.1,00,000 incurred by promoters was reimbursed to them by issuing a cheque
2. 2016 .(CH.NO.100200)(as per company policy ,preliminary expenses are charged to profit and loss account over
a period of 5 years ,that is 20%every year)
04-10-
2016 The company is running in a rented building with go down and paid a security deposit of Rs 75,000 by
cheque .(CH.NO.100201)

The directors applied for two lines of telephone connections and paid a security deposit of Rs .6,000 by
3. cheque .(ch.no.100202)

To commence operations .the company purchased the following assets by issuing cheque

06-10- From Kamal Khedia

4.
2016
 Static electricity resistant gloves RS.40,000(Rate of depreciation 60%)
 Voltage parameter testing (VPT) meter Rs .30,000(Rate of depreciation 50%)
5.  Electrical fittings Rs .20,000(Rate of depreciation 10%)
08-10-  Computer (Administration)Rs.40,000(Rate of depreciation 60%)(CH.NO.100203)
2016 From Shreya Verma

 Assembling Tables Rs .50,000(Rate of depreciation 10%)

 Furniture and fixtures Rs .50,000(Rate of depreciation 10%) (CH.NO.100204)
10-10- [note: the company follows written down value method to depreciate assets ]
2016
The company withdraw Rs.50,000 from the bank of office use (CH.NO.100205),Out of which Rs 30,000
was advanced to the petty cashier

The company purchased raw materials on 15 days credit from ULTRA TECH COMPUTERS, stored in Raw
Material Godown.

6.
7.

13-10-
2016

17-10-
2016

ULTRA TECH COMPUTERS

NO-65,Ravipuram,Ernakulam,Kerala Pin :682036,Tel:+910484-2454547,GSTIN:32AHDFU4587A1Z5

Tax Invoice

Invoice no:15012 To

Invoice date:15/10/2016 Name: STAR LTD

State:Kerala Addres PALLURUTHY,ERNAKULAM,PIN 682006,TEL-

s 04842564257

State code:32 GSTIN: 32BDTC2415G1ZB

SL.N Product Description HSN QT RAT AMOUN DISCOUNT TAXABLE VALUE

O CODE Y E T

1 HARD DISK 8523 100 250 230000 8 230000

0

2 MONITOR17” 8528 110 350 385000 385000

0

3 ATHLON 8473 75 370 277500 277500

PROCESSOR 0
4 P4 PROCESSOR 8473 75 570 427500 427500
0

TOTAL 13,20,000

Total invoice amount in words Total amount before tax

Rupees fifteen Lakh fifty eight thousand Add :CGST-9% 1,18,800

three hundred twenty only
ADD:SGST-9% 1,18,800

FREIGHT 720

BANK DETAILS GRAND TOTAL 15,58,320

BANK A/CNO:100124575655 Certified that the particulars given above are true and correct

BANK NAME:CANARA BANK For ULTRA TECH COMPUTERS

BRANCH NAME:PALLURUTHY

BANK IFSC CODE :CNRB0000806

TERMS & CONDITIONS: Authorized Signatory

(Create a separate sub-group for ‘expenses on purchases ‘under purchase account .The method to allocate when used
in purchase invoice is ‘appropriate by value’.)
8. 18-10-2016 The company purchased the following raw materials from SILCON SYSTEMS on 30 days credit stored in
Raw materials godown and paid carriage inward Rs.660/-
SILCON SYSTEMS

NO-101,Kakkanad ,Ernakulam,Kerala.Pin:682030,Tel:+910484-2475645,GSTIN:32ASGFSS271ZB

Tax Invoice

Invoice no:1045 To

Invoice date:17/10/2016 Name: STAR LTD

State:Kerala Address PALLURUTHY,ERNAKULAM,PIN 682006,TEL-0484-

2564257

State code:32 GSTIN: 32BDTC2415G1ZB

SL.NO Product HSN QTY RATE AMOUNT TAXABLE VALUE

Description CODE

1 KEYBOARD 84716040 110 200 22,000 22,000

2 MOUSE 84716060 110 150 16,500 16,500

3 MOTHER 84733020 110 3200 3,52,000 3,52,000
BOARD

TOTAL 3,90,500

Total invoice amount in words Total amount before tax 3,90,500

Rupees Four lakh sixty thousand only Add :CGST-9% 35,145

ADD:SGST-9% 35,145

DISCOUNT 790

BANK DETAILS GRAND TOTAL 4,60,000

BANK A/CNO:22551456210 Certified that the particulars given above are true and correct

BANK NAME:FEDERAL BANK For SILCON SYSTEMS

BRANCH NAME:KAKKANAD

BANK IFSC CODE :FDRL0001469

TERMS & CONDITIONS: Authorized Signatory

9. 28-10-2016 Transferred from Raw materials Godown to Assembling Godown.

Items Quantity

Monitor 50

P4 processor 25

Athlon processor 25

Hard disk 50

Keyboard 50

Mouse 50

Motherboard 50

[Note 1: Use stock journal Alt+F7]

[Note2: when there is an internal transfer the value of the stock items should be uniform in both the Godown]
10. 31-10-2016 Pass a GST adjustment entry, salary and rent o/s.
11. 01-11-2016 Petty cashier submitted the statement of expenses for the month of October 2016
Salaries to staff for October 2016 : Rs.9000 (for 15 days)(Loc l-4000,Loc ll -5000)`
Electricity expenses : Rs.400 (Loc l-200, Loc ll -200)
Conveyance expenses : Rs .800(Loc l -800)
Rent expenses : Rs.15000 (Loc l -10000, Loc ll -5000)
Printing and stationary expenses : Rs .2400
[Note:using cost centre class as location I and location II]
12. 04-11-2016 Issued a bearer cheque (ch.no.100206) for Rs .40, 000 to petty cash.
13. 10-11-2016 To assemble one computer P4, the following peripherals is required
 Name of peripheral QTY

P4 processor 1 Nos.

Monitor 1 Nos.

Motherboard 1 Nos.

Hard disk 1 Nos.

Mouse 1 Nos.

Keyboard 1 Nos.

Assembled 20Nos of computers P4 with above mentioned peripherals and stored the same at finished goods godown. Incurred
wages: Rs .30,000 paid by cheque (ch.no.100207) and overheads (including power) Rs 2,000(over heads are arrived at Rs 100
per computer)
[Note 1.Create Assembling Journal under stock journal by setting Use as Manufacturing Journal to Yes]
[Note 2: Set Bill Materials (BoM) in F: 12 configurations to yes]
14. 24-11-2016 The Company sold computer P4 to Interfex corporation on credit of 15 days.
STAR LTD

PALLURUTHY,ERNAKULAM,PIN 682006,TEL-0484-2564257,GSTIN-32BDTC2415G1ZB

Tax Invoice

Invoice no:1 To

Invoice date:24/11/2016 Name: INTERFEX COPORATION

State:Kerala Address No.205,chalakkudy,thrissur,pin:680307,0480-

2705478

State code:32 GSTIN: 32BNGFI214K1ZC

SL.N Product HSN QT RATE AMOUNT TAXABLE VALUE

O Description CODE Y

1 COMPUTER P4 84713010 10 25,000 2,50,000 2,50,000

TOTAL 2,50,000

Total invoice amount in words Total amount before tax 2,50,000

Rupees Two lakh ninety thousand Add :CGST-9% 22,500

only
ADD:SGST-9% 22,500

DISCOUNT 5,000

BANK DETAILS GRAND TOTAL 2,90,000

BANK A/CNO:10006633110 Certified that the particulars given above are true and correct

BANK NAME:HDFC BANK For STAR LTD

BRANCH NAME:KAKKANAD

BANK IFSC CODE :HDFC0000020

TERMS & CONDITIONS: Authorized Signatory

15. 28-11-2016 The company paid to Ultra tech computers Rs.5,55,000 as part payment of bill no.15012 dated
17-10-2016 by cheque (ch.no.100208).
16. 30-11-2016 Pass a GST adjustment entry, salary and rent o/s.
17. 01-12-2016 Petty cashier submitted the statement of expenses for the month of November 2016
Telephone expenses : Rs.1800 (Loc I-1000, Loc II-800)
Salaries to staff : Rs.18000 (Loc I-10000, Loc II-8000)
Electricity expenses : Rs.600 (Loc I -300, Loc II-300)
Conveyance expenses : Rs.950 (Loc I-950)
Rent expenses : Rs.15000 (Loc I-10000, Loc II-5000)
Advertising expenses : Rs.3000 (Loc I-3000)
[Note: using cost centre as location I & location II]
18. 04-12-2016 Cheque issued for Rs .42,000(ch.no.100209) to petty cash.
19. 05-12-2016 To assemble one computer Athlon, the following peripherals are required.
Name of the perisheral QTY

Processor athion 1

Monitor 1

Motherboard 1

Hard disk 1

mouse 1

keyboard 1

Assembled 22nos of computer Athlon with the above mentioned peripherals and stored them in Finished goods godown.
Incurred Wages: Rs.33,000 paid by cheque (ch.no.100210) and overheads (including power) Rs.2,200.
20. 08-12-2016 Received cheque for Rs.2, 85,000(ch.no.300260, AXIS BANK, CHALAKKUDY) from interfex corporation in
full settlement for bill
no.1, dated 24-11-2016
21. 09-12-2016 The following items were transferred from raw materials godown to assembling godown.
Items Qty

Monitor 50 Nos

Processor(p4) 25 Nos

Processor (athion) 25 Nos

Hard disk 50 Nos

 Keyboard 50 Nos

Mouse 50 Nos

Motherboard 50 Nos

22. 10-12-2016 The company received a sale order for 10 nos .of computer Athlon from infomaticsPvt.ltd., kottayamto be
delivered on
20-12-2016 at Rs.22,000 each .Order number IIP/01
[Note: Set allows sale order processing in F11 features to yes.]
23. 13-12-2016 Sold to Toonz animation, Mumbai, 10 Nos. of computer Athlon on 15 days credit (inv no.2)
Item Qty Rate(Rs) IGST Value

Computer(Athlon) 10Nos 23,500 18% 2,77,300

24. 14-12-2016 Raised a purchase order with Rheem computers,Aluvawith order with order no.PO/001,due date24-12-
2016 for the following
items
Items QTY

Monitor 100

Hard disk 100

Keyboard 100

Mouse 100

motherboard 100

[Note: in F11features, set allow purchases order processing to=yes,set allow 0 valued entries in vouchers to =yes.]
25. 15-12-2016 Advance income tax of Rs.5000 paid by cheque. (ch.no.100211)
26. 19-12-2016 Assembled 10Nos .of computer P4 and stored in finished goods godown
Wages
 Computer P4 :Rs.22,500
 Computer Athlon :Rs 15,000
Overheads
 Computer P4 :Rs1,500
 Computer Athlon :Rs.1,000
The above wages amounting to Rs.37,500 were Paid by cheque. (ch.no.100212)
27. 20-12-2016 Delivered to Informatics pvt .LTD, Kottayam towards sales order no.IIP/01 as per DN-01,as given.
Item Qty Rate(Rs) Value

Computer Athlon 10 Nos 22000 220000

[Note: Set use tracking numbers in F11, Features to yes.]

28. 23-12-2016 Informatics Pvt .Ltd, Kottayam returned 2 Nos of computer Athlon which were delivered on 20/12/2016 as
per DN.01 since
they were not as per specifications.
[Note: set use Rejection Notes in F11: features to yes]
29. 24-12-2016 Received items from Rheem Computer, Aluva against order no.po/001, asper RN.01.
Items Qty
 Monitor 100

Hard disk 100

Keyboard 100

Mouse 100

Motherboard 100

30. 25-12-2016 Received cheque (ch.no.450012, INDIAN BANK, MUMBAI) from Toonz animation, Mumbai in full
settlement for the sales date
13-12-2016
31. 26-12-2016 Returned 5 Nos .of mouse, which were not as per specifications, to Rheem Computer, Aluva towards receipt
note No RN.01
32. 29-12-2016 A sales invoice was raised on InfomaticPvt.ltd,kottayam for 8 Nos .of computer Athlon retained by them and
received a cheque (ch.no.300201,VIJAYA BANK,KOTTAYAM)toward the sale .(inv no.3)
33. 31-12-2016 Pass a GST adjustment endry, salary and rent o/s.
34. 01-01-2017 Petty cashier submitted the statement of expense for dec-2016
Salaries to staff : Rs.18,000 (Loc I-10000, Loc II-8000)
Electricity expenses : Rs.500 (Loc I -300, Loc II-200)
Conveyance expenses : Rs.1,100 (Loc I-1100)
Rent expenses : Rs.15,000 (Loc I-10000, Loc II-5000)
Selling and distribution expenses : Rs.1,500
[Note: using cost centre class as follows.]
35. 01-01-2017 An unsecured loan of Rs .75, 000 taken from Smith &Brothers with simple interest 10%p.a .interest to be
paid quarterly. The
amount was deposited in the bank
36. 02-01-2017 To expand its business, the company opened branch
To carry on operation s at the branch, the following assets were purchased by the head office by issuing cheques .
The details of the assets are follows
Building (branch) (rate of depreciation 10%) 2, 50,000 (ch.no.100213)
Furniture &fixtures (branch) (rate of depreciation 15%) 20,000 (ch.no.100214)
Electrical fittings (branch) (rate of depreciation 10%) 10,000 (ch.no.100215)
Computer (branch) (rate of depreciation 60%) 20,000 (ch.no.100216)
Cell phone (branch) (rate of depreciation 15%) 2,000 (ch.no.100217)
37. 03-01-2017 Rheem computers, Aluva sent an invoice (bill no.568) for the goods retained by the computer towards RN-
01 dated
24-12-2016. The details are as follows.
items Qty Value GST

Monitor 100 3600 18%

Hard disk 100 2300 18%

Keyboard 100 210 18%

Motherboard 100 3200 18%

Mouse 95 150 18%

Total amount

38. 05-01-2017 The company paid to Rheem computers Aluva Rs.5, 61,272 by cheque(ch.no.100218)as part payment of
invoice date
 03-01-2017
39. 06-01-2017 Stock was transferred to location 1 Godown to the details are as follows.
Items Qty Godown

Computer (P4) 10 Finished goods

Computer(Athion) 10 Finished goods

40. 07-01-2017 Purchased the following items from fromSpic-n-Span Traders,Karnataka on credit of 10 days (bill no 143)
items Qty Rate IGST

Mouse 10 200 18%

Processor(A) 25 3800 18%

Processor(P4) 25 5800 18%

41. 08-01-2017 Cheque issued for Rs .30,000 to petty cash (ch.no.100219)

42. 10-01-2017 The following item was sold to ACron Clothing Ltd. Singapore on credit of 30 days. the details are as
follows. (Inv no.4).
Items Quantity Rate Value Total

Computer P4 15 500 7500 3,37,500

[Note 1: Billing to be done in US Dollars as per the agreement]

[Note 2: Set multi-currency in F11: Features to Yes. Rupee was traded at Rs .45/$.]
43. 14-01-2017 Paid Spic-n-Span traders, Karnataka against bill no.143 by cheque in full settlement against the purchase
the dated
07-01-2017
44. 15-01-2017 Transferred by cheque Rs 75,000(ch.no.100220) from head office (Ho) to branch
45. 18-01-2017 Paid Ultra Tech computer Rs 3, 00,000 by cheque (ch.no.100221) as part payment for bill 689 dated 17-
10-2016
46. 20-01-2017 Sold the following items to Concorde PackingServices,Kollamon credit of 10 days .interest is applicable at
10% pa after
due date and 12%pa interest is future chargeable from 10-02-2017(inv no.5)
items Quantity rate GST

Computer (P4) 10 28,400 18%

Computer(Athion) 10 25,000 18%

[Note: the above sale was made location I godown and bill was issued by the head office.]
47. 21-01-2017 The company decides to make a price list.price list 1
[Note;create a price list with effective date as on 21-01-2017.]
item Rate Discount

Computer(Athlon) 25500 10%

Computer (P4) 28500 10%

48. 27-01-2017 Assembled 10 nos of computer P4, 10nos.of computer athlon.

Wages
 Computer P4:Rs.15000
 Computer Athlon:Rs 15000
Overheads
  Computer P4:Rs1000
 Computer Athlon:Rs.1000
Assembled computer are stored in Finished Goods Godown .
The above wages amounting to RS.30,000 were paid by cheque (ch.no.100222)
49. 28-01-2017 Transferred 5 nos of computer athlon from Finished Goods Godown to location 1 Godown.
50. 29-01-2017 Sold the following items to FH Ltd, Palakkad and received cheque .(ch.no.456201,SYNDICATE
BANK,PALAKKAD )
(from the location 1 godown)(inv no.6)
Sale was made as per price list 1
Item Qty Rate Discount Gst Amount

Computer (A) 5 25,500 10% 18% 1,35,405

51. 31-01-2017 Pass a GST adjustment entry, salary and rent o/s
52. 01-02-2017 Petty cashier submitted a statement of expenses for January 2017
Telephone expenses : Rs.1,650 (Loc I-1000, Loc II-650)
Salaries to staff : Rs.18,000 (Loc I-10000, Loc II-8000)
Electricity expenses (office) : Rs.530 (Loc I -300, Loc II-230)
Conveyance expenses : Rs.1,000 (Loc I-1000)
Rent expenses : Rs.15,000 (Loc I-10000, Loc II-5000)
Printing &stationary expenses : Rs.1,000 (Loc I-1000)
[Note: Using cost center class as location]
53. 04-02-2017 Transferred from Raw Material Godown to Assembling Godown.
Item Qty

Monitor 50

Processor (P4) 25

Processor(Athlon) 25

HardDisk 50

Keyboard 50

Mouse 50

MotherBoard 50

[Note:use stock journal voucher class to transfer the material from raw material go down to assembling godown.]
54. 06-02-2017 The company purchased a cabinet manufacturing machine for Rs .50, 000{Life Time -10 years} from
MACHINE TECH, KOZHIKODE for which they paid GST @18%the payment was made by cheque (ch.no.100223).
Tax authorities allowed tax credit to be set off in single installment.
56. 10-02-2017 Assembled 20 nos of computer athlon and 20 nos of computer P4 and stored in Finished Goods Godown.
Wages
 Computer Athlon:Rs 30,000
 Computer P4:Rs.30,000

Overheads
 Computer Athlon:Rs.2,000
 Computer P4:Rs 2,000
Paid the above wages amounting to Rs .60,000 by cheque.(ch.no.100224)
57. 12-02-2017 Received payment from Acron clothing Ltd .Singapore, through online banking amounting to $ 7,500
[Note: exchange rate as on this date is Rs .46/$]
58. 14-02-2017 Received a cheque (ch.no.540045, CSB, KOLLAM) from Concorde Packing Services, Kollam with interest
in full settlement
towards bill dated 20-01-2017
[After debited by defining name of class as simple interest and set use class for interest accounting in voucher
type class to yes.]
59. 16-02-2017 The following items were salae to Mahajan Education Trust .price list 1 was used. (Inv no.7)
item Quantity Rate Discount GST Total

Computer P4 5 nos 28500 10% 18% 1,51,335

60. 18-02-207 Sale the following items to Harmony Musical instruments (inv no 8)*use price list 1 as price level
Items Quantity Rate Discount GST Total

Computer P4 5 nos 28500 10% 18% 1,51,335

62. 19-02-2017 Paid Rs 1,00,000 to Ultratech computer through cheque (ch.no.100225) against bill no.689 dated 17-10-
2016
63. 20-02-2017 Received invoice from Mohan Bharghav, chartered accountant, towards internal audit of accounts, Rs
.35000(TDS RS 3500)
64. 21-02-2017 Paid to Mohan Bharghav, Cheque (ch.no.100226) towards his invoice, after deducting TDS of Rs 3500
65. 22-02-2017 Purchases the following items from ISILON SYSTEM, Kalamassery (bill no.768)
Item Quantity Rate GST Value

motherboard 10 3,200 18% 32,000

66. 23-02-2017 The computer decide to make a revised price list, to capture a higher market share for the following items .
[Note: create price list 2 with change in the prices, effective date as on 23-02-2017]
Items Rate Discount

Computer(Athion) 25,500 15%

Computer (P4) 28,500 15%

67. 24-02-2017 Sold to SoftDesk Systems, Vyttilaas per price list 2 and received payment by cheque (ch.no.356220, ICICI
BANK, VYTTILA)
The details of the sales as follows. (inv no.9)
Rates as per the revised price list.
Items Quantity Rate Discount Value GST

Computer (P4) 10 28,500 15% 24,2250 18%

Computer(Athion) 12 25,500 15% 26,0100 18%

68. 25-02-2017 Store keeper, after physical stock verification in raw materials godown, found that the stock of mouse was 63
nos. this adjusted
by passing physical stock voucher.
69. 26-02-2017 Company invested Rs 14,00,000 in 6% Bond, interest Receivable half yearly (payment made through
cheque(ch.no.100227)
70. 28-02-2017 Bank charge of Rs .2500 debited by bank.
28-02-2017 Pass GST adjustment entry, salary and rent o/s
71. 01-03-2017 Cheque issued for 40,000 to petty cash(ch.no.100228)
72. 02-03-2017 Petty cashier submitted the statement of experience for the month of Feb 2017
Salaries to staff : Rs.18,000 (Loc I-10,000, Loc II-8,000)
Electricity expenses : Rs.480 (Loc I -480)
Conveyance expenses : Rs.1,200 (Loc I-1,200)
Rent expenses : Rs.15,000 (Loc I-10,000,Loc II-5,000)
Carriage outward exp :RS 750(Loc I-750)
73. 03-03-2017 Paid TDS deducted of Rs 3,500 on Mohan bhargav, invoice through online banking.
74. 04-03-2017 Sold to Stylex Training Corporation. (inv no.10)
Items Qty Rate GST

Computer (P4) 5 28,500 18%

Computer(Athion) 8 25,500 18%

75. 08-03-2017 Received cheque for Rs 1,50,000 from Stylex Training Corporation.
76. 10-03-2017 Stylex Training Corporation returned 1 computer Athlon
77. 15-03-2017 The Company decided to provide maintenance service for computers. Services were hired from Tech
services Ltd .and invoice
for Rs 5,510, GST18 %( include GST)
78. 17-03-2017 PAID Rs 5510 by cheque to Tech services Ltd.(ch.no.100229)
79 . 20-03-2017 Raised an invoice on Coin tech computers for Maintenance services amounting to R.S 10,000+GST 18%.
80. 25-03-2017 Received cheque from Coin tech computers.
81. 31-03-2017 Pass GST adjustment entry,salary and rent o/s

Adjustment:
 Payables
1. Staff salaries -Rs18,000
2. Electricity expenses -Rs.500
3. Telephone exp -Rs .950
4. Rent -Rs .15,000
Preliminary expenses written off by 20%
Interest on unsecured loan
Interest on bond
 Depreciation
1. Assembling table @10%
2. SER gloves @60%
3. VPT Meter @50%
4. Furniture & fittings10%
5. Electrical fittings10%
6. Computer @60%
7. Cabinet manufacturing machine